$75M apartment project creates new vision for Adelaide

Vision on Morphett, a new $75 million 15-storey apartment building will be constructed in the Adelaide CBD this year to capitalise on the revitalisation of the city’s north-west corner.
 
The building will comprise 157 apartments including three levels reserved exclusively for penthouse living, while retail outlets will be incorporated on the ground floor of the building.
 
Developed by the China-Australia Property Development Group, Vision on Morphett will be built adjacent to Light Square in the heart of Adelaide’s burgeoning education precinct and on the doorstep to major infrastructure projects including the Riverbank expansion, Royal Adelaide Hospital and Adelaide Oval upgrade.
 
“We’re very excited about the commencement of this project which we believe will set a new benchmark for inner city apartment living,” said Hanson Lin, Director of the China-Australia Property Development Group, which expects the project will create approximately 160 jobs during construction.
 
“We have been meticulously planning Vision on Morphett for almost two years to ensure the project meets the requirements of investors and owner occupiers.”
 
Mr Lin says the project will include one, two and three-bedroom apartments, and with prices starting from $189,000 expects strong interest from buyers, including local and international investors as well as owner occupiers.
 
“Real estate is all about location and Vision certainly ticks that box. Buyers will be close to several billion dollars worth of new infrastructure developments along North Terrace, while the building itself will add to an existing precinct boasting the best of education, culture, dining and entertainment,” he said.
 
“The project website is now up and running as is our sales and information display suite on Franklin Street to enable registered purchasers the first opportunity to choose their preferred apartment.
 
“Also, as a special offer for the first buyers, we are delighted to announce that we will fully cover stamp duty costs on selected apartments on behalf of purchasers, which is a fantastic incentive that relieves buyers of one of the most significant cost burdens when purchasing a property.
 
“We’re very pleased to announce the release of this project which comes at an opportune time given demand for inner city housing in Adelaide is showing strong growth.”
 
Works are planned to commence on-site in May, with the project due for completion by the end of next year.
 
Brock Urban Projects, Connor Holmes Project Marketing and DG Real Estate have been engaged to manage the sales process for Vision on Morphett.
 
Vision on Morphett will be located at 176 Morphett Street in Adelaide. For more information visit www.visiononmorphett.com.au.
 
About China-Australia Property Development Group
 
China-Australia Property Development Group is a joint venture between Hui Ma Australia Investment Co and Mr Wu Zhicai, Director of Xinyi Real Estate Development Company.
 
The Hui Ma Group is one of the largest steel suppliers in South China and together with Xinyi Real Estate Development Company boasts a range of property development projects in Australia and China.
 
FURTHER INFORMATION:
 
Please contact Kieran Hall at Hughes Public Relations on (08) 8412 4100 or kieran@hughespr.com.au.